Policy on Corporate Social Responsibility
At INFOMERICA, our vision is to engage with society beyond business as we believe a good business needs to create higher impact in building a better future for communities around the globe. This policy defines our Corporate Social Responsibility (CSR) objectives and programs undertaken by INFOMERICA to fulfil its obligations as a responsible corporate citizen to achieve its vision.
Corporate Social Responsibility is not a new concept in India, however, the Ministry of Corporate Affairs, Government of India has recently notified the Section 135 of the Companies Act, 2013 along with Companies (Corporate Social Responsibility Policy) Rules, 2014 "hereinafter CSR Rules" and other notifications related thereto which makes it mandatory (with effect from 1st April, 2014) for certain companies who fulfil the criteria as mentioned under Sub Section 1 of Section 135 to comply with the provisions relevant to Corporate Social Responsibility.
WHAT IS CSR?
The term "Corporate Social Responsibility (CSR)" can be referred as corporate initiative to assess and take responsibility for the company's effects on the environment and impact on social welfare. The term generally applies to companies’ efforts that go beyond what may be required by regulators or environmental protection groups.
Corporate social responsibility may also be referred to as "corporate citizenship" and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change.
"CSR is the process by which an organization thinks about and evolves its relationships with stakeholders for the common good, and demonstrates its commitment in this regard by adoption of appropriate business processes and strategies. CSR is a way of conducting business, by which corporate entities visibly contribute to the social good. Socially responsible companies do not limit themselves to using resources to engage in activities that increase only their profits. They use CSR to integrate economic, environmental and social objectives with the company's operations and growth."
AIMS & OBJECTIVES
- To develop a long-term vision and strategy for INFOMERICA CSR objectives.
- INFOMERICA shall promote projects that are:
(a) Sustainable and create a long-term change.
(b) Have specific and measurable goals in alignment with INFOMERICA philosophy.
(c) Address the most deserving cause or beneficiaries.
- To establish process and mechanism for the implementation and monitoring of the CSR activities for INFOMERICA.
The CSR activities involve the following:
- Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water;
- Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
- Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
- Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water;
- Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art, setting up public libraries, promotion and development of traditional arts and handicrafts;
- Measures for the benefit of armed forces veterans, war widows and their dependents;
- Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports;
- Contribution to the Prime Ministers' National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women;
- Contributions or funds provided to technology incubators located within academic institution which are approved by the Central Government;
- Rural development projects.
INFOMERICA will focus on CSR initiatives that promote the areas identified in this policy. Programs which further these objectives will be undertaken globally wherever INFOMERICA is present, with special attention on areas surrounding INFOMERICA facilities. INFOMERICA will implement the chosen programs via three channels:
- Directly by INFOMERICA
- Through any Foundation
- Through “Individual Social Responsibility” programs undertaken by INFOMERICA Minds and supported by INFOMERICA as appropriate
Funding, Selection and Monitoring Process
The CSR Team will receive requests for funding of programs and initiatives on a continuous basis. Team of the CSR Committee will evaluate, approve and monitor the initiatives based on a detailed quantitative and qualitative impact analysis similar to business cases.
“Let’s make each other proud!! “